Practice records worth pulling together
- New patient counts and total visits by month for three years
- Collections by payer: cash, commercial insurance, Medicare and auto injury
- Accounts receivable by age, including PIP claims still open
- Associate doctors and staff, their pay and whether they plan to stay
- Your lease, its renewal options and whether a buyer can take it over
Patients follow people
Most chiropractic patients come back because of a doctor they trust. That loyalty is the clinic's value, and it is also the risk. If every adjustment runs through you, buyers worry the patients will drift away when you leave.
Clinics with an associate doctor already treating a good share of patients sell more easily. If that isn't you yet, consider hiring one a year or two before selling and letting patients get used to them.
Payer mix tells the buyer how steady you are
Buyers break your collections down by source. Cash and wellness plan patients, commercial insurance, Medicare and auto injury cases each carry different margins, paperwork and risk.
A clinic with a broad mix holds up better when one payer changes its rules. Show collections, not just charges, because what you bill and what you actually receive are often far apart in this field.
Auto injury cases under Florida's PIP rules
Florida's no fault auto insurance, known as PIP, sends many injured drivers to chiropractors. The rules set deadlines for starting care and limits on benefits, and claims can take a long time to pay.
Buyers look closely at clinics that rely heavily on PIP. The state's auto insurance rules have been debated in the legislature for years, and a change could hit that revenue. Ask your attorney how current rules affect your open claims.
Receivables and what happens to them
Open insurance and PIP claims are money owed to you. In many practice sales the seller keeps receivables earned before closing, and the buyer collects them for a fee or passes payments through.
Agree on this in writing. Disputes over who gets a late check are common and avoidable. An aging report broken out by payer helps both sides set a fair arrangement.
Your transition and the noncompete
Buyers usually want the selling doctor to stay for a period, introduce patients and treat part time. Plan for months, not weeks. A warm handoff protects the patient base you are selling.
Expect a noncompete too. Florida law presumes a seller's restriction of three years or less is reasonable. Think about the radius you can live with, especially if you might keep treating somewhere in Duval or St. Johns County.
Licensing and ownership questions
Florida's clinic licensing rules can depend on who owns the practice. A buyer who isn't a licensed practitioner may face extra steps a chiropractor buyer would not. Your health care attorney should confirm the path early.
For similar practices, compare med spas and independent pharmacies. If your clinic is near the coast, our Jacksonville Beach page covers selling there.
When you want a clear picture of your practice's value, use the confidential form or call (904) 555-0129.